The Cabinet Committee of the Union, headed by Prime Minister Narendra Modi, has given a green signal to a proposal aimed at conducting the third batch in a series of ascending e-auctions for 730 channels in 234 new cities for an estimated reserve price of Rs. 784.87 crore under Private FM Radio Phase III policy.
Another proposal was approved from the Cabinet to charge Annual License Fee of FM channel as 4% of Gross Revenue excluding GST, applicable for 234 new cities/ towns.
The Private FM Radio rollout in 234 new cities/ towns will satiate the hitherto unmet demand for FM radio in these cities/ towns, which still remain uncovered by Private FM radio broadcasting and bring new/ local content in mother tongue. The move will eventually lead to creation of new employment opportunities, boost to local dialect and culture, and ‘vocal for local’ initiatives, an official statement said.
Many of the approved cities/ towns are in Aspirational districts and LWE affected areas. Setting up of Private FM Radio in these areas will further strengthen government outreach in these areas, the statement added.
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